Our Tractor Insurance covers the tractors owned by you, which are primarily used in farming activities and hauling produce to the market place. This policy ensures that you remain worry-free when it comes to financial losses that may arise because of your tractors. The tractors used for agriculture are insured under Commercial Misc Class D category and the ones used for hauling goods are insured under Commercial GCV category.
Scope Of Cover
This policy covers the damage of the tractor due to any accidental occurrence or theft. This policy also protects the owner against any Third Party liability that can occur from the usage of the tractor. This liability is unlimited in nature.
Sum Insured
This is the cost of a new tractor in the first year of insurance which then depreciates with the age of the tractor.
Additional Coverage
1. Legal liability towards the Driver
2. IMT 23 which covers the mudguard , bonnet, headlamps , fender and paintwork.
Add-On covers
- Depreciation reimbursement - where no deduction in claim is made towards the depreciation in parts due to the age of the vehicle
- b) Return to invoice - where the insured is paid the charge of the vehicle in full along with the registration charges and road-tax in case of total loss and theft
- NCB protection - where the NCB remains protected at the time of renewal, even in case of a single claim during the policy period.
Discounts Available
No Claim Bonus is available for each and every claim-free-year
Exclusions
However please note, while every effort is made to give you the best possible services, any loss/damage to the vehicle and/or its accessories will not be covered if caused by the following:
- Normal wear, tear and general ageing of the vehicle
- Depreciation or any consequential loss
- Mechanical / electrical breakdown
- Vehicle being used otherwise than in accordance with limitations as to use
- Damage to / by a person driving the vehicle without a valid license
- Damage to / by a person driving the vehicle under the influence of drugs or liquor
- Drunk driving
- Loss / damage due to war, mutiny or nuclear risk
